re: Why do ppl hate billionaires?

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I have a problem with what they are able to do with their wealth

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Do you know what Bezos does with his philanthropy. The arrogance of people who make snap assumptions against others disgusts me.

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So you repeat that process thousands of times by super wealthy individuals and you get what we have today with the increasingly widening wealth gap between the haves and have nots.

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Bezos and Gates philanthropy can never change the wealth gap. Who sold you that bull shite?
It is the common marxist play to rile up young and easily influenced "useful idiots". Making a few rich people more poor never fixes true poverty.

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No, but Bezos does have a position where he could lead on increasing wages for his low, line level employees, which could in theory drive up market wages in places there are Amazon facilities. I think overall, Amazon does pay fairly well, but there have also been reports of pretty bad working conditions and toxic environments.

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He would be bashed raising home prices. Just look how they reacted to Amazon bringing all those jobs to NY. They were upset about the potential increase in home prices. Bezos and the like will be bashed no matter what they do.

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Most of his wealth is still in company stock so he can control manage and direct said company

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And here lies the problem with the average American. They do not understand that someone having a net worth over a billion dollars, does not mean they have that money sitting in a bank account or safe deposit box. They don't walk around with a few hundred thousand on their person at any time. Their money is tied up in assets that are continuing to make them even more money.

Also, because the average American is beyond lazy and doesn't understand the concept that business owners & executives make more than the average hourly worker because they are paid for their risks, knowledge & expertise.

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So you repeat that process thousands of times by super wealthy individuals and you get what we have today with the increasingly widening wealth gap between the haves and have nots.

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The wealth gap will always be increasing. If someone with $1B has a +1% year that is a gain of $10M.

If someone making $20K has a +500% year that is a gain of $100k. The wealth gap has increased by $9.9M even though the % change was 500x.

There is too much focus on the income/wealth gap. The lower income earners in 2020 US have a better quality of life than 99% of humans that have ever lived on Earth.

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Jealousy is a big reason, but not the biggest.

The single biggest reason is the "pie fallacy" as I like to call it. This is the idea that there is X amount of money to be had. If someone has too many pieces of the pie, that means there is little or none left for everyone else.

This is propagated by those stoking the flames of class warfare. It makes it very easy for those without to justify their position in life because the evil rich man took all the money and didn't leave any for everyone else.

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This x1000000

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I'm not a Marxist. I would just prefer we return to the taxation system the US had constructed post WW2. Which is when America was truly great

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Were we great because of tax rates

Agreed. I think a lot of the narrative about taxing the one percent is misguided. The one percent of wealth in this nation are the doctor down the road or the partner in a small engineering firm. I am more interested in taxing people who have attained enormous wealth in the hundreds of millions category. Those people are actively shaping our government for their benefit which I have a problem with. Government is suppose to serve its' constituents not the few, wealthy elite who can buy a senator

When we start taxing the wealthy on net worth. The upper middle and middle class will inevitably be paying that tax. Name a single time this hasn't happened?

My 3 opinions on things through reading this-

1. Absolutely I'm jealous, but I ain't mad at the guy for what he has. We make a fine, comfortable household income, but we still have to save and plan for big purchases and vacations. I'd love the freedom to be able to just do whatever, whenever. I have absolutely come to terms and am comfortable with the FACT that I could double my income if I REALLY wanted to...but the reality of the sacrifices that I would have to make just aren't really attractive, at least not while I have kids in middle school.

2. I absolutely don't like the fact that Amazon is worth what it is, but still has employees receiving government assistance. I knowingly say that without a thought out solution, but it doesn't seem right.

3. The idea that some Americans have a head start....and equating that to them being white, from 2 parent households, having college educated parents, etc. You can't honestly deny that 'head start,' but its only an unfair thing if you assume the finish line is some finite thing. Like, the first one to 1,000,000 net worth is the winner and gets everything. EVERY. SINGLE. PERSON. born in this country has the opportunity to rise above the circumstances they were born in to. The finish line is what needs to be viewed differently. If your kids' lives are better than yours through your hard work in your professional life and your commitment and dedication to them personally, YOU WIN.

They don't know the difference between wealth and liquidity.